ABELCO AS: årsregnskap 2008 vs 2007
Weaker earnings
approved 2009-08-10; registry 2009-08-13
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ABELCO AS. Revenue 555.6k NOK → 560.7k NOK (+0.9%). Net result +215.8k NOK → +36.6k NOK. Equity 971.2k NOK → 7 760 NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: net result weakened; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ABELCO AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 555.6k NOK to 560.7k NOK (+0.9% YoY). Calculated
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↑
Operating result improved
Operating result +288.2k NOK → +298.0k NOK (op. margin 51.9% → 53.1%). Calculated
What deteriorated
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↓
Net result weakened
Net result +215.8k NOK → +36.6k NOK (net margin 38.8% → 6.5%). Calculated
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↓
Equity eroded
Book equity 971.2k NOK → 7 760 NOK (equity ratio 24.6% → 0.2%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 50.0k NOK → 1.77m NOK. Reported fact